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Expectations for inflation five to 10 years ahead fell sharply
to 3.2% from 3.5%, the joint lowest level since March 2021, the
survey found.
Citi said the readings would encourage the Bank of England's
Monetary Policy Committee, which is assessing how much
inflationary pressure remains in the economy, as it considers
when to cut interest rates for the first time since 2020.
"For the MPC, this should provide further encouragement that
second round effects are continuing to fade in a relatively
symmetric fashion, consistent with fading wage pressures in the
forward-looking data," Citi said.
(Reporting by Paul Sandle and William Schomberg; Editing by
Leslie Adler)
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